Alaska Gov. Frank Murkowski has signed into law a bill that appropriates $1.65 million for the state’s Department of Revenue for costs associated with bringing North Slope natural gas to market.
Revenue
Articles from Revenue
MMS Royalty Revenue Pay-out to States Increases 46%
Interior Secretary Gale Norton announced that 36 states received more than $1 billion during 2003 as part of their share of royalty revenues collected by the Department’s Minerals Management Service (MMS). In 2002, the MMS doled out $753 million.
MMS Royalty Revenue Pay-out to States Increases 46%
Jumping up almost 46% from 2002, Secretary of the Interior Gale Norton announced Tuesday that 36 states received more than $1 billion during 2003 as part of their share of royalty revenues collected by the Department’s Minerals Management Service (MMS). In 2002, the MMS doled out $753 million.
Industry Briefs
The New Mexico Public Regulation Commission has unanimously approved a $22 million revenue increase for PNM Resources’ gas utility, with the business rate increase to take effect immediately. The utility serves about 450,000 residential and business natural gas customers in the state. The commission’s final order accepts a compromise agreement negotiated in December by the company, commission staff and the industrial customer group. All parties to the rate proceeding have indicated they would not appeal the order. The settlement provides for a $20 million increase in gas rates and a $2 million increase in other service fees and charges. The new rates offer the company the opportunity to earn a 10.25% return on equity in its gas utility operations. Assuming normal weather, the company estimates that two-thirds of the rate increase will be realized in 2004 earnings. Because of concerns regarding the impact of higher rates during the current winter heating season, the negotiated settlement postpones the start of the residential portion of the rate increase until April 2004, while business customers will see an immediate rate hike. The residential customers will account for about 82% of the total rate increase on an annualized basis, with the remaining 18% from business customers.
New Mexico’s PNM Achieves Gas Rate Increase
The New Mexico Public Regulation Commission on Tuesday unanimously approved a $22 million revenue increase for PNM Resources gas utility, with the business rate increase to take effect immediately. The utility serves about 450,000 residential and business natural gas customers in the state.
Canadians Expect Higher Prices to Fill Revenue Gap Left by Lower Production
Government observers in Ottawa, convinced the North American market has entered an era of tight supplies and high prices, anticipate a steady rise in the value of Canadian natural gas as far ahead as their computer projections can see.
Canadians Expect Higher Prices to Fill Revenue Gap Left by Lower Production
Government observers in Ottawa, convinced the North American market has entered an era of tight supplies and high prices, anticipate a steady rise in the value of Canadian natural gas as far ahead as their computer projections can see.
GulfTerra Doubles Income on Strong Gas Prices, Asset Sale
Strong natural gas prices and an asset sale helped double the quarterly income and revenue at Houston-based GulfTerra Energy Partners LP, the company said Monday.
FERC, CFTC Budgets Higher; Feds Factor in Future ANWR Revenue
President George W. Bush last Monday targeted additional funding for energy infrastructure and oversight activities in his $199.4 million budget request for the Federal Energy Regulatory Commission for fiscal 2004.
FERC, CFTC Budgets Higher; Feds Factor in Future ANWR Revenue
President George W. Bush on Monday targeted additional funding for energy infrastructure and oversight activities in his $199.4 million budget request for the Federal Energy Regulatory Commission for fiscal 2004.